USDX (USD Index)

U.S dollar index slightly higher for two days but no major bullish reversal yet. The index might continue under bearish pressure and attempt to extend the downward movement toward 100.00 level next. At the current time, the index is located near the previous swing low and will test it. If the index bounce upward, then the daily SMA 200 is the resistance level to watch.

EUR/USD

EUR/USD slightly lower after the test on 1.0900 resistance level. The pair might continue the bearish correction toward 1.0800 and daily SMA 200. If the pair manage to reach the support levels and produce bullish reactions, then traders will get confirmation to enter long positions. On the upside, we think the pair could extend its bullish movement to target 1.1000. Next week FOMC meeting could put the pair on sideways situation, but it might be a good chance to accumulate long positions as the Fed is expected to cut interest-rate more than expected this year.

Today’s critical levels to watch:

Support: 1.0800, 1.0650, 1.0500, 1.0339

Resistance: 1.0900, 1.1000

GBP/USD

GBP/USD maintain the positions not far from the 1.3000 resistance level. No bullish continuation today and the pair slightly lower. However, the pair continue to stay inside previous day’s range. Traders might get an inside bar pattern where the pair could break out toward 1.2800 or 1.3000. If the pair turn lower, then traders could use it as a chance to add more long positions. On the upside, a close above 1.3000 is a bullish continuation confirmation.

Today’s critical levels to watch:

Support: 1.2800, 1.2625, 1.2200

Resistance: 1.3000

USD/JPY

USD/JPY in on bearish path but currently supported by the 147.43 level. The pair might bounce upward to target daily SMA 200 where traders could consider entering short positions. However, the pair could break out lower immediately to continue the bearish trend toward the 145.00 support level. On the upside, a close above daily SMA 200 might reverse the current trend to bullish.

Today’s critical levels to watch:

Support: 145.00

Resistance: 149.20, 150.00, 151.00, 151.80

AUD/USD

AUD/USD has not moving out of its consolidation range, but might attempt to extend the bullish movement. On the upside, the pair has 0.6500 and daily SMA 200 as upward target. However, if the pair come under bearish pressure and form a new lower swing low, then the situation could turn bearish again for medium-long term.

Today’s critical levels to watch:

Support: 0.6250, 0.6000

Resistance: 0.6350, 0.6500, 0.6700